Vice President calls for diversified funding for universities

Vice President Naana Jane Opoku-Agyemang has urged for diversified and sustainable funding for Ghana's universities as public finances struggle to keep pace with increasing demands. At the inaugural Ghana Higher Education Summit, she emphasized the need for stronger ties with industry, development partners, alumni, philanthropists, and the private sector to bolster financial resilience and maintain universities' core functions.

Prof. Opoku-Agyemang highlighted the challenges universities face, including surging enrollments, rising research and innovation needs, rapid technological advancements, and escalating operational costs, all while grappling with limited public resources. She reiterated that universities remain crucial to national progress through human capital, research, innovation, and leadership development.

The government has taken steps to enhance access to quality tertiary education, such as the no-fees-stress initiative, expanded student loan support, free tertiary education for students with disabilities, increased investments in emerging public universities, and reforms to boost transparency in the National Scholarship Scheme.

Additionally, the government has bolstered technical and vocational education and supported infrastructure projects, like constructing 10,000 hostel beds for the University of Ghana. The government has also established the Ghana National Research Fund with an initial $100 million to fund competitive research grants and doctoral/postdoctoral training.

Prof. Opoku-Agyemang stressed that the sustainability of universities hinges on diversified funding models that bolster institutional resilience while preserving academic freedom, quality, equity, and access. Emeritus Professor Ernest Aryeetey, a former University of Ghana Vice-Chancellor, proposed a funding model encompassing government grants, performance-based financing, philanthropy, crowdfunding, community support, institutional revenue generation, and partnerships with industry.

Prof. Nana Aba Appiah Amfo, the University of Ghana's Vice-Chancellor, stated that the summit aimed to explore sustainable and equitable financing approaches for higher education while safeguarding academic standards and expanding access to opportunities.